PNB posts Rs 9.4 bn Q1 loss: Investors awaiting asset quality relief

Scam-hit Punjab National Bank’s (PNB’s) operational performance in the June quarter (Q1), announced on Tuesday, appears to stay ahead of the Street’s expectations, with the actual net loss being Rs9.4 billion compared to the expected loss of Rs23.4 billion (Bloomberg consensus).
Even other operating metrics such as net interest income or NII (up 21.7 per cent year-on-year to Rs46.9 billion) and operating profit (up 30.4 per cent year-on-year to Rs42 billion) were ahead of the estimates. Yet, the stocks fell eight per cent on Tuesday. For one, even as the bank has .....